The global consumer industry experienced a 28% decline in the number of digitalization-related patent applications in Q1 2023 compared with the previous quarter. The total number of digitalization-related grants dropped by 30% in Q1 2023, according to GlobalData’s Patent Analytics. Digitalization is one of the eight mega-trends that GlobalData covers as part of the TrendSights series of consumer insight studies. GlobalData’s Digitalization – Consumer TrendSights Analysis report highlights the market drivers, the relevance of trends by sector and provides strategic take-outs for new product development. Buy the report here.
Notably, the number of digitalization-related patent applications in the consumer industry was 558 in Q1 2023, versus 780 in the prior quarter.
The top five companies accounted for 53% of patenting activity
Analysis of patenting activity by companies shows that LG filed the most digitalization patents within the consumer industry in Q1 2023. The company filed 80 digitalization-related patents in the quarter, compared with 70 in the previous quarter. It was followed by Hisense Visual Technology with 74 digitalization patent filings, Haier Group (73 filings), and Rakuten Group (37 filings) in Q1 2023.
Patenting activity was driven by China with a 44% share of total patent filings
The largest share of digitalization related patent filings in the consumer industry in Q1 2023 was in China with 44%, followed by Japan (9%) and South Korea (8%). The share represented by China was 9% lower than the 53% share it accounted for in Q4 2022.
For further understanding of GlobalData's Digitalization – Consumer TrendSights Analysis, 2022 buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
